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British Pound / Japanese Yen
Long

GBPJPY: Sideways Market & Consolidation

By VasilyTrader
snapshot

GBPJPY is consolidating within a horizontal trading range on a daily.

140.0 - 140.5 is its resistance.
137.3 - 137.5 is its support.

The next strong swing move will most likely initiate only after a breakout of the range.
The side of the breakout will show the direction of the market.

In case of a bullish breakout (daily candle close above),
next goal for buyers will be 141.8 level.

In case of a bearish breakout (daily candle close below),
next goal for sellers will be 135.5 level.


Wait for a breakout, follow the market.
Chart PatternsGBPGBPJPYjapaneseyenpoundpoundsterlingswingTechnical AnalysistradingTrend AnalysisWave Analysisyen
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